Cheapest Insurance for a Kia Optima in Arkansas

When discussing auto insurance, the word “cheap” should never be used anywhere to describe car insurance rates. Excuse the oxymoron, but cheap auto insurance for a Kia Optima just does not exist. But fear not, because there may be ways you can still get coverage that is easier on your budget.

The chances of buying cheaper coverage for a Kia Optima in Arkansas is dependent upon many factors such as whether you are a homeower, where you live, and your choice of physical damage deductibles. Arkansas drivers on average pay around $960 annually for Optima insurance, but that is a ballpark figure that uses a 40-year-old married female that included comprehensive and collision coverage and $250 deductibles.

There is a good probability you are not 40 years old and maybe not even female, possibly single instead of married, or you want lower deductibles. Car insurance rates are unique for each driver, so the most reliable way to find the most affordable coverage for your Kia is to comparison shop your policy at each renewal.

View Kia Optima Insurance Rates

Your Kia’s trim level tends to have a direct effect on the cost of insurance, so the rate you will pay to insure a Optima LX model will be $106 cheaper than the insurance cost for the high end Optima SX version, as shown below.

Table data represents married female driver age 40, no speeding tickets, no at-fault accidents, $250 deductibles, and Arkansas minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Table data does not factor in vehicle location which can impact premium rates greatly.

How to find a good Arkansas car insurance company

Choosing the right insurer can be difficult considering how many companies sell insurance in Arkansas. The company information in the lists below may help you pick which auto insurance companies to look at putting your business with. These rankings are for the largest companies in America, so companies that may only write in Arkansas are not taken into consideration for the list.

Top 10 Large Auto Insurers in Arkansas Ranked by A.M. Best Rating

1. Travelers – A++
2. GEICO – A++
3. State Farm – A++
4. USAA – A++
5. Nationwide – A+
6. Allstate – A+
7. The Hartford – A+
8. Progressive – A+
9. Esurance – A+
10. The General – A-

Top Companies for Kia Optima Insurance in Arkansas

Impact of speeding/accidents on car insurance rates

The easiest method to get affordable car insurance premiums in Arkansas for an Optima is to drive safe and avoid accidents and keep your driving record clean. The illustration below shows how violations and fender-benders influence insurance costs for different age groups. The information is based on a single female driver, full coverage, $100 deductibles, and no discounts are applied.

The data charted above shows the average cost of an auto insurance policy in Arkansas per year with no accidents or violations is $2,305. Get written up for one speeding ticket and the average cost hikes up to $2,614, an increase of $309 each year. Now throw in two accidents along with the one speeding ticket and the 12-month cost of car insurance for a Kia Optima jumps again to an average of $5,264. That’s an increase of $2,959, or $247 per month, just for not paying attention while driving!

The example below illustrates how your deductible choice can increase or decrease insurance prices when trying to find cheap insurance for a Kia Optima. The price estimates are based on a married male driver, full coverage, and no discounts are taken into consideration.

As shown above, a 30-year-old driver could reduce rates by $364 a year by switching from a $100 deductible to a $500 deductible, or save $552 by selecting a $1,000 deductible. Younger drivers, like the Age 20 category, could reduce their rates up to $1,102 every year by selecting a higher deductible.

If you do decide to increase your deductibles, it will now be necessary to have enough in a savings account to cover the extra out-of-pocket expense, which is the one shortcoming of high deductibles.

Which car insurance company is best?

When it comes to insurance for an Optima, the most popular companies are Geico, State Farm, Progressive, and Allstate. All of them have unique options and discounts that you can choose from. The following table shows some of the ratings and options offered by each one.

Who has the cheapest Kia Optima insurance quotes?

Drivers have many ways to buy car insurance in Arkansas, but the three most common ways are through an independent insurance agent, an exclusive insurance agency like State Farm or Auto-Owners, or direct from companies such as Geico or Progressive.

They all have the same basic principle, but it’s good to know the differences in how they provide price quotes.

Independent agents have contracts with many companies and can get rate quotes from each one. Agents of this type are not employed by one specific company and can give you more rates, which may give you improved chances of finding a lower rate. If you are not satisfied with one company, it’s simple to move the policy which prevents you from having to switch agents.

A captive or exclusive agent is able to quote prices with one insurance company, examples being Allstate and Liberty Mutual agents. Exclusive agents generally are unable to provide prices from multiple companies, so always compare other rates.

Consumers who buy car insurance direct do not use an independent or exclusive agent and buy direct online or over the phone from a company like Esurance or Progressive. This option is good for families who have fewer assets and have a good understanding of what coverage options they need.

Which method works best to find the cheapest insurance for a Kia Optima in Arkansas? Most people would assume that shopping direct saves money since there is no middleman, but unfortunately, that is not the case. An argument could also be made that an independent agency is the best way due to increased selection, but again, that’s not accurate. And occasionally, exclusive agencies have extremely competitive rates that are the lowest in Arkansas.

Because it’s impossible to say who has the best car insurance rates, the best way to ensure you are not overpaying for car insurance is to obtain price quotes and compare them. The ideal approach is to get quotes from all three to have the best selection of rates to choose from. For a list of companies with some of the cheapest Arkansas car insurance rates, click here to view.